Are you over age 55? Are you thinking of selling your home?

With a recent change in legislation (passed the Senate and awaits Royal assent), you will have the opportunity to top up your superannuation with part of the proceeds of the sale of your home if you are over age 55 and satisfy the following additional conditions;

  1. Your home is in Australia.
  2. You have owned the home for ten years or more before the sale.
  3. The home is not a caravan, houseboat, or other mobile home.
  4. The downsizer contribution to your superannuation fund must be made within 90 days of receiving the proceeds of the sale, which is usually at the date of settlement.
  5. You have not previously made a downsizer contribution to your superannuation from the sale of another home or the part sale of a home.
  6. Before making the contributions (or at the same time), you must provide your superannuation fund with the “downsizer contribution into super form.”

The downsizer contribution to superannuation is up to $300,000 per person ($600,000 per couple).


This strategy may prove advantageous for individuals that satisfy the above requirements, including,

  1. Those who are asset-rich and income poor. This may be one of the reasons for selling the home.
  2. Babyboomers. This generation tends to have a relatively low superannuation balance and expensive homes.
  3. People with surplus assets looking for a strategy to minimise their taxation legally.
  4. Individuals or couples with surplus cash looking for potentially a higher rate of return.
  5. Individuals with superannuation balance greater than $1.7 Million.
  6. This downsizer contribution is not to be confused with the Non-Concessional Contribution of $110,000 per year or $330,000, which includes two-year contributions paid in advance.


Even though the money can be injected into superannuation after age 55, it cannot be accessed until generally;

  1. Age 60 and retired, or
  2. Age 65

Should you require further information about Downsizers Contributions, please feel free to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book an obligation-free appointment.

The information in this document does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. It is important that your personal circumstances are taken into account before making any financial decision and it is recommended that you seek assistance from your financial adviser.